(SBWIRE) — 08/01/2013 — Home values in the Valley of the Sun are up 30 percent since April 2012, according to the latest housing report from Arizona State University. While the housing market recovers, in concert with the local economy, home values are still 20 percent below their peak in 2006.
Mike Orr, director of the Center for Real Estate Theory and Practice at ASU’s W.P. Carey School of Business says the housing market is healthy and getting healthier.
“Given the balance between supply and population growth in Phoenix, home prices are unlikely to fall below today’s level,” he said. “More likely, they will continue to climb for a long time, though at a more gentle pace.”
For current renters and other prospective buyers interested in Valley real estate including the Phoenix real estate market, Scottsdale, Paradise Valley and Fountain Hills, this is likely the optimal time to look for a new home.
